Apple is already making plans for its third-generation foldable iPhone, with launch expected as early as 2028, according to Bloomberg's Mark Gurman.
Writing in his latest "Power On" newsletter, Gurman said the first foldable iPhone is about to get what he called the device's first "truly revolutionary design change" this year, and that Apple already has a roadmap extending two generations beyond it. A second-generation model is planned for 2027, Gurman says, with a third version following as early as 2028.
The third-generation foldable will apparently feature slightly larger displays on both the inside and the outside compared to its predecessors, though he did not provide specific screen sizes. The first foldable iPhone is expected to launch with a 7.8-inch inner display and a 5.5-inch cover display, so any increase would build on those dimensions. This is the first report to lay out plans for a third-generation model, extending Apple's foldable roadmap a year beyond where it previously stood.
The first foldable iPhone is expected to arrive this year with an ultra-thin design, Touch ID instead of Face ID, the A20 chip, C2 modem, and the moniker "iPhone Ultra," at a price around or above $2,000. The second-generation foldable, meanwhile, is reported to have already received the go-ahead for development, according to the Weibo leaker known as "Digital Chat Station," who said the "iPhone Ultra 2" project has been formally approved and will likely reuse the first-generation model's display. That model is expected to launch in fall 2027 alongside the 20th-anniversary iPhone.
New images of camera protector accessories for the "iPhone Ultra" suggest Apple's first foldable iPhone will launch in silver and dark blue finishes.
Leaker Sonny Dickson yesterday shared images of two third-party camera protectors designed to fit over the iPhone Ultra's camera bump, with one in silver and one in a dark blue finish. Dickson has a track record of accurate accessory and dummy model leaks, including his early look at this year's iPhone 18 Pro colors.
The images back up a May report that cited a Macworld supply chain source describing a classic silver and white model alongside an indigo option similar to the iPhone 17 Pro's Deep Blue finish. A silver finish was separately described as the first "confirmed" color in June, and a report the same week suggested the darker option might not be black. Dickson's accessories now offer the clearest visual confirmation yet of that silver and dark blue offering.
These iPhone Fold camera protectors give us a look at two of the colors planned for the device: silver and dark blue. pic.twitter.com/KMaMu4JyZE
The restrained approach stands in contrast to the iPhone 18 Pro, which is rumored to add a Dark Cherry finish and a Light Blue option alongside Silver this year. A black option for the Pro models was also rumored initially, though a subsequent report suggested Apple decided not to include it this year.
The leaked accessories also clearly show the widely rumored design of the camera plateau on the back of the foldable iPhone, featuring two horizontally arranged lenses alongside a pill-shaped flash and a LiDAR scanner. The foldable iPhone Ultra is expected to be announced alongside the iPhone 18 Pro and iPhone 18 Pro Max next month.
3D render claiming to depict Apple’s first foldable iPhone (image: Jon Prosser)
Apple and its suppliers are scrambling to secure enough DRAM (mobile memory chips) ahead of the expected September 2026 launches of the iPhone 18 series and the foldable iPhone Ultra, according to semiconductor analyst Tim Culpan’s exclusive reporting for Culpium.
With under six weeks to the anticipated debut, assemblers are rushing shipments of DRAM. Apple primarily sources from Micron, with additional supply from SK Hynix and Samsung. Severe shortages due to RAMageddon have left processor wafers sitting idle, awaiting packaging—creating pressure to avoid launch shortages.
The issue stems from Apple’s A20 Pro chips (built on TSMC’s 2nm process), which use Wafer-Level Multi-Chip Module (WMCM) packaging that integrates the processor and DRAM at the wafer level. This means DRAM must be available for packaging; unfinished dies cannot simply be stockpiled and completed later. Reports indicate TSMC is holding roughly $1 billion worth of unpackaged Apple processors delayed by the missing memory.
DRAM has been tight for months, driven in large part by memory makers prioritizing higher-margin chips for AI data centers over consumer devices. This has already affected other Apple products (such as certain Macs) with longer wait times. Apple and its partners (including assemblers like Foxconn) expect to meet initial launch demand, but retail stock could deplete quickly and online preorder wait times may stretch afterward. The foldable iPhone Ultra, with its more complex design and lower planned volumes (historically projected in the low millions for the second half of the year in related analyst notes), is viewed as particularly vulnerable to limited availability.
Culpan’s sources indicate Apple plans roughly 200 million combined units across the iPhone 18, 18 Pro, and Ultra over the product cycle, with the Ultra representing under 10%.
This memory constraint adds to broader industry dynamics of rising memory costs and competing demand from AI infrastructure, which have already influenced pricing discussions and production priorities for Apple hardware.
MacDailyNews Take: Buyers interested in the new Pro models or the Ultra at launch would be advised to pre-order very, very promptly!
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The iPhone 18 Pro, iPhone 18 Pro Max, and foldable "iPhone Ultra" could be in short supply this year, leading to long wait times and an initial sellout during preorders.
Semiconductor analyst Tim Culpan says Apple is having trouble getting enough DRAM to finish production of the new iPhone models, and chip supplier TSMC has $1 billion worth of unpackaged processors waiting on memory chips.
Apple's new A20 Pro chips are built on TSMC's 2nm process and use Wafer-Level Multi-Chip Module packaging to integrate the processor and DRAM at the wafer level. Unfortunately, that means TSMC needs to have the DRAM on hand for assembly, and it can't be added at a later step. Apple is not able to stockpile finished dies and then add DRAM when it becomes available.
Apple and its assemblers think they can meet initial demand, but retail inventory could sell quickly, leading to prolonged delivery estimates. The chip backlog will delay main logic board assembly and final device assembly, which could impact production at Foxconn and other assemblers.
DRAM has been in short supply for months and has led to long wait times for the Mac Studio, Mac mini, and MacBook Air. Companies that make memory are prioritizing chips for AI data centers because those chips are more profitable, leaving little capacity available for manufacturing chips for consumer devices.
We've had ongoing rumors about manufacturing issues with the iPhone Ultra due to the complexity of the design, and supplies of the new foldable could be the most limited of the three iPhone models. Some reports suggest the foldable iPhone could be introduced in September and then launch later, in October or November, but others say it will be available at the same time as the iPhone 18 Pro and Pro Max.
The iPhone Ultra is going to cost as much as $2,500, but the novel form factor and Apple's new Apple Upgrade pricing option could lead to more people being willing to shell out for the device. Apple is also expected to raise prices for the iPhone 18 Pro and iPhone 18 Pro Max, and analysts believe the devices could be up to $300 more expensive because Apple is paying more for RAM.
Last year, the iPhone Air, iPhone 17 Pro, and iPhone 17 Pro Max sold out during the preorder period, and shipping times extended into October. Along with potential production delays impacting supply, there will be no lower-cost iPhone 18 for people to choose this year, putting more pressure on iPhone 18 Pro supplies. Apple is not planning to launch the standard iPhone 18 until early 2027.
If you're looking to get one of the new iPhone models in September, it's a good idea to preorder right when the devices become available for purchase to have the best chance of getting one on launch day.
The iPhone Ultra price could establish an entirely new tier within Apple’s smartphone range. Current estimates place the company’s first foldable iPhone above $2,000, with some industry forecasts suggesting an average selling price near $2,500 and higher-storage configurations approaching $3,000.
Apple has not confirmed the device, its name, or its retail price. The iPhone Ultra branding also remains unofficial, although it has appeared repeatedly in reports concerning Apple’s planned expansion beyond the Pro and Pro Max levels.
The foldable is expected to join the iPhone 18 Pro family during Apple’s fall hardware cycle. Rather than replacing the iPhone Pro Max, it would sit above it as a separate model built around a book-style design and a display that expands to approximately the size of a small tablet.
A price beyond $2,000 would make it the most expensive iPhone Apple has released. The current iPhone 17 Pro Max starts at $1,199 in the United States, leaving a difference of at least $800 between Apple’s established flagship and the lowest estimates for the foldable.
Recent projections have pushed that gap even wider. Reports citing analyst Ming-Chi Kuo have discussed a possible range between $2,300 and $2,500, while an IDC estimate cited in supply-chain coverage placed the average selling price at approximately $2,500. Storage upgrades could take selected configurations closer to $3,000.
iPhone Ultra Price Creates a New Flagship Tier
Apple has spent years arranging the iPhone range around a price ladder. Standard models serve the center of the market, while Air and Pro devices address different preferences involving weight, cameras, materials, performance, and display size.
A foldable iPhone would require another level. Its internal display, hinge, structural materials, battery arrangement, and manufacturing tolerances introduce costs that do not exist in a conventional iPhone.
The rumored hardware points to a device intended to combine phone and tablet functions. Reports describe an outer screen measuring about 5.5 inches and an internal display of approximately 7.8 inches. When closed, the product would operate as a compact iPhone. Opening it would provide enough space for larger applications, side-by-side content, expanded video, and an iPad-style software interface.
Apple is reportedly developing interface changes that would let applications take greater advantage of the internal display instead of simply enlarging an iPhone layout. That software work may become one of the main distinctions between the device and existing foldables, particularly if Apple can connect it closely with iPad multitasking conventions.
The hinge is expected to use liquid metal, an amorphous alloy chosen for strength and resistance to deformation. Apple has also reportedly focused on reducing the visible display crease, one of the most recognizable compromises found on current folding phones.
Those elements help explain a premium price without guaranteeing that customers will accept it. A $2,000-plus phone would compete for spending that could otherwise purchase an iPhone and an iPad, a high-end Mac, or several years of conventional smartphone upgrades.
The device would therefore need to offer more than the novelty of a folding screen. Durability, battery life, camera performance, application behavior, repair costs, and long-term display reliability will influence whether buyers view the iPhone Ultra as a versatile computer or an unusually expensive phone.
Costly Engineering Behind the Fold
Rumors suggest Apple may use Touch ID in the side button instead of Face ID. The change would not necessarily represent a retreat from facial authentication across the rest of the iPhone range. A foldable chassis has limited internal space, and eliminating the TrueDepth camera hardware could help Apple manage thickness around the outer and inner displays.
The reported design includes two rear cameras and front-facing cameras accessible in both folded and unfolded positions. That arrangement may leave the iPhone 18 Pro Max with the more extensive photography system, despite the foldable carrying a much higher price.
Such a decision would position the iPhone Ultra around form factor and productivity rather than making it the automatic leader in every specification. Apple has used similar distinctions elsewhere, allowing one product to command a premium for its design while another retains advantages in cameras, battery endurance, or sustained performance.
Display production is another source of expense. Folding OLED panels require flexible materials, protective layers, specialized hinges, and tighter assembly controls. Apple’s reported pursuit of a nearly crease-free screen may increase component costs and reduce early manufacturing yields.
The company is also entering the category after competitors have spent several generations addressing hinge failures, screen damage, dust protection, and application scaling. Arriving later gives Apple access to a more mature supply chain, but its design standards may create additional production challenges.
Industry estimates suggest Apple’s arrival could help raise the average selling price of book-style foldables throughout 2026. Competitors already sell premium folding phones, yet a model priced near $2,500 would push the category further away from mainstream flagship pricing.
Image Credit: AppleMagazine
Apple Upgrade Softens the Monthly Number
Apple Upgrade could make the iPhone Ultra price appear less intimidating at checkout. The Klarna-backed program lets eligible US customers lease selected Apple devices through fixed monthly payments rather than covering the entire retail price upfront.
Current iPhones can be leased for 12 or 24 months. At the end of the term, customers may return the device, move into another eligible Apple product, or pay the remaining amount required to keep it.
That structure can produce lower monthly payments than traditional financing because the customer is not necessarily paying the entire purchase price during the lease. Part of the product’s value remains in the device at the end of the agreement.
A future iPhone Ultra could fit naturally into this model. Its high retail price and expected resale value would give Apple and Klarna room to separate the cost of using the phone for two years from the cost of owning it permanently.
No monthly figure has been announced for the foldable. Apple cannot price an Apple Upgrade lease until it establishes the phone’s retail cost, residual value, eligible term, and trade-in conditions. A simple calculation that divides $2,000 or $2,500 by 24 months would therefore be misleading.
The monthly charge may be considerably lower than a standard purchase installment, but the customer does not automatically own the iPhone after making the scheduled lease payments. Keeping it requires an additional payment based on the remaining value specified by the agreement.
AppleCare+ is also separate from the current Apple Upgrade lease price. That differs from the former iPhone Upgrade Program, which bundled AppleCare+ coverage into its monthly payments. Protection could be particularly relevant for an expensive first-generation foldable containing a flexible display and complex hinge.
Trade-in credit may reduce the monthly charge, while storage selection would push it higher. Sales tax, cellular service, accessories, and optional protection would remain additional costs. Apple Upgrade changes when and how customers pay, but it does not turn a $2,000-plus product into a lower-priced iPhone.
Limited Supply Could Intensify Early Demand
Apple is reportedly preparing millions of foldable units, but production may be heavily weighted toward the final months of 2026 and 2027. Supply-chain estimates have ranged from 7 million to 10 million devices, with different reports using different production periods and assumptions.
The foldable may be announced alongside the iPhone 18 Pro and iPhone 18 Pro Max but reach customers later. That would resemble the 2017 launch of the iPhone X, which was introduced with the iPhone 8 family in September and released in November.
A delayed retail date would give Apple more time to accumulate inventory while preserving the device’s place in its fall presentation. It could also place the iPhone Ultra into the holiday quarter with considerable demand concentrated around a relatively small supply.
High pricing does not necessarily prevent shortages during the first weeks of an Apple product launch. Early adopters, developers, collectors, and customers waiting specifically for an Apple foldable represent a smaller audience than the conventional iPhone market, but they may still outnumber the units available at release.
Apple Upgrade could add another source of demand by replacing the full retail figure with a monthly lease price inside the Apple Store. That presentation may make the phone accessible to customers who would reject a $2,500 purchase while accepting a recurring payment and returning the device later.
Kuo expects only 500,000 to 1 million foldable iPhones to ship during the third quarter, a supply level that could push some deliveries four to six weeks beyond the opening preorder window.
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